Teck Resources Ltd. (TCK) Research Coverage Started at Bank of America Corp.
Stock analysts at Bank of America Corp. assumed coverage on shares of Teck Resources Ltd. (NYSE:TCK) in a report released on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other equities analysts have also issued reports on the company. TD Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Teck Resources in a research note on Tuesday, July 26th. Clarkson Capital raised Teck Resources from a “neutral” rating to a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research raised Teck Resources from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Saturday, July 9th. Dundee Securities upgraded Teck Resources from a “neutral” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley upgraded Teck Resources from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $7.00 to $18.00 in a report on Thursday, September 15th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.21.
Shares of Teck Resources (NYSE:TCK) opened at 18.77 on Monday. The firm’s market capitalization is $10.82 billion. Teck Resources has a 12 month low of $2.56 and a 12 month high of $19.08. The firm’s 50-day moving average price is $17.61 and its 200-day moving average price is $13.36.
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Teck Resources (NYSE:TCK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.33 billion. Teck Resources had a positive return on equity of 0.39% and a negative net margin of 32.87%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, equities analysts anticipate that Teck Resources will post $0.63 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. purchased a new stake in Teck Resources during the second quarter valued at about $105,000. Fox Run Management L.L.C. bought a new stake in Teck Resources during the third quarter worth $191,000. Macquarie Group Ltd. bought a new stake in Teck Resources during the second quarter worth $150,000. Commonwealth Equity Services Inc increased its stake in Teck Resources by 4.9% in the second quarter. Commonwealth Equity Services Inc now owns 19,237 shares of the company’s stock worth $253,000 after buying an additional 900 shares during the last quarter. Finally, Sprott Inc. bought a new stake in Teck Resources during the second quarter worth $395,000. Institutional investors and hedge funds own 47.22% of the company’s stock.
Teck Resources Company Profile
Teck Resources Limited is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company operates through five segments: steelmaking coal, copper, zinc, energy and corporate. Through its interests in mining and processing operations in Canada, the United States, Chile and Peru, the Company exports seaborne steelmaking coal and produces mined zinc.
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